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Commercial Construction Project Planning: 3 Warning Signs Your Budget Might Go Bust

HardHatChat

Budget is always a major consideration for our commercial construction clients, and as a general contractor we devote significant time to the budgeting process. Here are a few signs that, in our experience, indicate your project budget is more likely to bust: Skimping on Professional Services.

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How to Stop Profit Margin Fade

Construction Business Owner

This recurring problem occurs when the final construction project job cost finishes higher than the bid estimate or budget. Estimators generally price projects using bids from their regular subcontractor and suppliers, plus their standard company production crew rates for labor and equipment.

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2022 Construction Cost Changes

Construction Business Owner

Cost changes you need to know for key construction materials, labor & equipment. Budgets have gone through the roof. And the shelf life for bids and estimates has dropped from weeks to days. Greg Ragsdale. Wed, 04/06/2022 - 10:36. Material price hikes. Supply chain bottlenecks. Skilled labor shortages. Business Management.

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Growing Your Fleet: To Bid Or To Buy?

Construction Business Owner

When it’s time to grow your fleet of access equipment, it doesn’t always make sense to purchase new equipment. The used equipment market is a viable alternative to buying new, giving companies the opportunity to minimize investments and stretch budget dollars further. It also provides buyers with options.

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8 essential steps for effective project cost estimation and budgeting

Fieldwire

To say that winning bids is the key to success in construction is a half-truth. Estimating project costs correctly and managing the budget accordingly are just as vital. Subcontractors getting awarded a contract spells financial disaster if the bid is too high to be competitive or too low to be profitable.

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Construction Budgeting 101

Autodesk Construction Cloud

Your construction budget is one of the most important things to get right in any project. Poor budgeting leads to inaccurate estimates and error-prone forecasts, which can result in unfavorable project outcomes. The lack of proper budgeting practices can also lead to communication breakdowns and misalignment.

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To Bid Or To Buy?

Construction Business Owner

When it’s time to grow your fleet of access equipment, it doesn’t always make sense to purchase new equipment. The used equipment market is a viable alternative to buying new, giving companies the opportunity to minimize investments and stretch budget dollars further. It also provides buyers with options.

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